Britain's most recognised, and most photographed, regiments face leaving their traditional home for alternative accommodation under Government plans to sell off their barracks for hundreds of millions of pounds.

The Ministry of Defence has confirmed plans to sell the
Household Cavalry Mounted Regiment (HCMR) barracks in Hyde Park
after more than 200 years, and find a new home for them elsewhere
in the capital.

The Household Cavalry, which comprises The Life Guards and The
Blues & Royals, have historically been based less than a mile
from Buckingham Palace, for ceremonial duties and to be on hand to
deal with any emergencies besetting the monarch.

Yet the MoD is now looking for alternative homes for its mounted
units up to 2.5 miles away from nearby Horse Guards Parade, where
members of the regiment take part in the Changing of the Guard
every day.

The 33-storey residential block at the heart of the complex was
once voted one of the ugliest buildings in Britain. But its
position in one of London's most expensive areas has made it a
uniquely saleable asset for a department struggling to stay within
tight government spending limits.

Even as millions watched the cavalry escort the Queen down the
Mall during last week's jubilee celebrations, MoD officials were
finalising plans – codenamed "Project Rose" – to free up the 1.4
hectares of prime land between Knightsbridge and Hyde Park.

Officials have made clear that the move is driven by a desire to
make money from selling the barracks. The "pre-tender" document,
circulated among potential developers, states: "The aim of the
project is to develop a commercial solution that will provide
sustainable infrastructure for the HCMR, at the same time creating
revenue from the release of the site."

Interested companies have been told to respond by next month,
according to the document, which confirms the MoD's intention of
"relocating the HCMR from its current home of Hyde Park Barracks to
a new site in central London, which would then allow for the
release of the site".

The MoD has warned would-be buyers that they won't be able to
take over the present site until they have built a new home for the
regiment elsewhere. Developers have been told the site will need to
be large enough to house an indoor and an outdoor riding school and
"located within 1km of park land, around which an all-weather horse
exercise track will be required".

The department has also raised the prospect of moving to an
existing MoD site, which would increase the profits raised from the
deal.

Paul Howarth, of the MoD's Defence Infrastructure Organisation,
said: "We are constantly looking for ways of improving facilities
for soldiers, but site limitations at Hyde Park Barracks restrict
effective modernisation."

Major General Sir Patrick Cordingley said: "My deep concern, my
deep sadness, is not actually a military one, it is purely a
patriotic one, of downgrading our ability to keep the tradition of
this country going in London. The knock-on effect, as far as the
traditions of this country are concerned, is extremely sad,
particularly in the jubilee year."

Andy Smith, director of the UK National Defence Association,
said: "This is the Government's belated jubilee message to Her
Majesty: 'We are moving your royal guards as far away from the
royal palaces as we can get them!'

"It beggars belief that even this Government, with its complete
lack of empathy for the armed services or for British military
traditions, could be cooking up an idiotic plan like this."